Search Vendors

Apple CFO To Retire In September, Maestri Named Successor

Ping! Zine EditorMar 5th, 2014Comments Off on Apple CFO To Retire In September, Maestri Named Successor

(Ping! Zine Web Tech Magazine) – Apple announced early Tuesday morning that its Chief Financial Officer and Senior VP, Peter Oppenheimer, will retire at the end of September, ending a 18 year career at the Cupertino, California based company.

Current VP of Finance and Corporate Controller, Luca Maestri, will succeed Oppenheimer as CFO, starting the transition in June.

“His guidance, leadership and expertise have been instrumental to Apple’s success, not only as our CFO but also in many areas beyond finance, as he frequently took on additional activities to assist across the company. His contributions and integrity as our CFO create a new benchmark for public company CFOs,” said Tim Cook, Apple CEO.

During Oppenheimer’s years at Apple the company saw an annual revenue increase from $8 billion to $171 billion, as well as the company globally expanding its products.

Maestri recently started working at Apple and has over 25 years of experience in senior financial management. He will oversee the controller, treasury, investor relations tax, information systems, and internal audit and facilities functions.

“When we were recruiting for a corporate controller, we met Luca and knew he would become Peter’s successor. His contributions to Apple have already been significant in his time with us and he has quickly gained respect from his colleagues throughout the company,” added Cook.

In a statement, Oppenheimer said during his retirement he wants to spend more time with his family, travel, get more involved with Cal Poly, and finish his pilot’s license.